ISLAMABAD Apr 19 (APP): The Senate was informed Wednesday that a new arrangement was needed for promoting pioneer industry of Engineering Sector.
Minister for Commerce, Khurram Dastgir Khan responding to a motion on the subject, informed the House that after amendment in Finance Bill, Sales tax law and Customs Law in 2015, a new arrangement was needed to promote pioneer industry.
He said earlier, there had been a provision of declaring the initial
industry in engineering sector as a pioneer industry but under the new law the situation had changed and “a new arrangement would be needed for the purpose.”
Minister for Industries Ghulam Murtaza Jatoi also informed the House
that re-structuring of the engineering sector was required as the government endeavors to improve quality and ensure better price for consumers for engineering goods.
Earlier speaking on the motion, Senator Ateeq Sheikh said, there was need for developing engineering sector to fully benefit from upcoming Special Economic Zones.
He claimed that FBR had disagreed with the government proposal for promoting the pioneer industry of Engineering Sector as he also mentioned to emergence of the cartel in automobile sector due to not promoting the engineering sector.
The Commerce Minister dispelled the impression of FBR’s disagreeing with the government’s proposal of promoting the pioneer industry of Engineering Sector.
Khurram Dastgir said it was not the matter of disagreement by the FBR but it was related to Finance Bill 2015 in which these provisions were amended.